The BSE Sensex on Wednesday tumbled over 349 points to close at 27,527.22 on weakening global cues after the latest poll suggested that Republican Donald Trump was slightly ahead of market favourite Hillary Clinton in the US Presidential race. Also, the broader NSE Nifty broke below the 8,600-mark level to close at an over three-month lows. Investors are also waiting the US Federal Reserve’s interest-rate decision later today. The 30-share index stayed in the negative terrain for the whole day and settled lower by 349.39 points, or 1.25 per cent — its biggest single-day fall since October 13 — at 27,527.22. This is the weakest closing since October 17 when it had closed at 27,529.97. The gauge had lost 64.90 points in the past two sessions. The broader Nifty also succumbed to selling pressure and slipped below the 8,600-mark to hit a low of 8,504.85 before ending 112.25 points, or 1.30 per cent down at 8,514, its lowest closing since July 21.
ONGC was the top Sensex loser, skidding 4.10 per cent to close at Rs 277.35, followed by Tata Motors, which fell 3.19 per cent to Rs 514. Others that put pressure included SBI, Sun Pharma, RIL, Bharti Airtel, Dr Reddy’s, Cipla, TCS, Hero MotoCorp, Maruti Suzuki, Asian Paint and ICICI Bank, falling by up to 2.75 per cent.
3:30 pm BSE Sensex was trading close to 350 points down at 27,527.22 while NSE Nifty down by 1.30% at 8,514 as the markets closed.
3:25 pm BSE Sensex was trading over 340 points down at 27,532.06 while NSE Nifty down by 1.30% at 8,513.85.
3:15 pm BSE Sensex was trading over 350 points down at 27,524.09 while NSE Nifty down by 1.39% at 8,506.75.
3:05 pm BSE Sensex was trading 339.21 points low at 27,537.40 while NSE Nifty down by 1.20% at 8,522.50.
02.48 pm: Sensex was trading 281 points down at 27,594.94 while Nigty slipped by 93 points at 8,532.90.
01.15 pm: Sensex traded 256 points down at 27,620.04 while NSE Nifty was down by 1% and stood at 8,539.
12.33 pm: Sensex was trading 291 points down at 27,584 while Nifty slipped over 100 points at 8,526.40
11.55 am: BSE Sensex falls by 304 points at 27,572.54 while NSE Nifty trades at 8,529.20, down by 97 points
11.35 am: The 30-share index slipped by 293 points at 27,582 while NSE Nifty drops by 97 points or 1.13% at 8,528.35
10.50 am: Sensex was trading 282 points down at 27,594 while NSE Nifty slipped 93 points at 8,532.
10.15 am: Sensex was down by 267 points at 27,609. While Nifty traded at 8,539, down by 87 points. Meanwhile, stocks of M&M rose by 2.59% on account of its auto sales performance.
10.12 am: Mahindra and Mahindra Ltd announced its auto sales performance for October 2016 which stood at 52,008 vehicles compared to 51,383 vehicles during October 2015. The passenger vehicles segment sold 24,737 vehicles in October 2016 as against 24,060 vehicles during October 2015, representing a growth of 3%. The company’s domestic sales stood at 48,729 during October 2016, as against 48,815 vehicles during October 2015.
09.47 am: Sensex trades 256 points down at 27,620 while NSE Nifty is down by 1.02% at 8,538.50
09.19 am: Sensex was trading 302 points down at 27,574.01 while Nifty slipped 94.25 points at 8,532. Stocks of Tata Motors was down by 1.02%, ONGC down by 2% while Tata Steel, ICICI Bank, Lupin and Bajaj Auto were amongst the other losers. Meanwhile, on Nifty, only NTPC opened in green while Adani Ports, Tata Steel, Hindalco opened in red.
BSE Sensex opens 298 points down at 27,577.83. While NSE Nifty opens 0.97% down or 83 points down at 8,542.80.
Domestic equity markets are likely to open negative on Wednesday tracking SGX Nifty and global cues. At 07.50 am, SGX Nifty was trading 82 points, or 0.96 per cent down at 8,567. Asian shares stumbled and the U.S. dollar was on the defensive on Wednesday as signs that Republican U.S. presidential candidate Donald Trump could be closing the gap with his Democratic rival Hillary Clinton spooked investors. Oil prices tumbled to one-month lows as a trade group’s report of larger-than-expected U.S. crude inventory added to concerns about oversupply from growing doubts over whether oil producing countries can agree on an output cut later this month.
On Tuesday, BSE Sensex failed to maintain the early momentum and gave up its early gains towards the fag-end to close 54 points down at 27,876.61, led by sell-off in Axis Bank, TCS, Sun Pharma, despite positive global cues. The 50-share NSE Nifty managed to close in the green with a modest rise of 0.55 point, or 0.01 per cent at 8,626.25. It shuttled between 8,669.60 and 8,614.50.
Stocks in focus:
1.Indian Hotels Company Ltd: Days after the disbanding of Group Executive Council set up by Tata Sons ousted chairman Cyrus Mistry, N S Rajan and Nirmalya Kumar have resigned from their respective board positions at Indian Hotels Company and Tata Chemicals.
2. Jubilant Life Sciences: Jubilant Life Sciences has received approval from the US health regulator to market Rosuvastatin Calcium tablets, used for the treatment of hyperlipidemia, in the American market.
3. Dabur India Ltd: FMCG major Dabur on Tuesday said it will acquire the personal care, hair care and creams businesses of the South African based-CTL group of companies in a deal valued at USD 1.5 million (Rs 10 crore). The acquisition will mark Dabur’s entry into the South African personal care market, the company said in a statement.
4. Lupin: The pharma major on Tuesday informed bourses that it has received final approval from the USFDA to market norgestimate and ethinyl estradiol tablets marked for use by females of reproductive potential to prevent pregnancy.
5. Coal India: Coal India on Tuesday registered a marginal decline in its production in October to 43.51 million tonnes (mt) compared to 44.37 mt produced in the same month last year. According to provisional data, its off-take for the last month stood at 43.04 mt, down marginally from 44.41 mt from in the year-ago month.